CBOT March soyabeans settled down 9-1/2 cents at $9.05 per bushel after dipping to $9.03-1/2, the contract's lowest since January 22. CBOT March soyameal ended down $1.20 at $304.90 per short ton while March soyaoil fell 0.63 cent to 30.24 cents per pound. Beneficial rains fell in crop areas of Brazil over the weekend and forecasts called for more showers this week that should help late soyabean growth, Radiant Solutions said in a note to clients.
The rains overshadowed a smaller Brazilian soya crop estimate from agribusiness consultancy AgRural, which pegged the harvest at 112.5 million tonnes, down from 116.9 million previously. Traders worried about US trade negotiations with China, the world's top soyabean buyer. The two sides are trying to hammer out a deal before a March 1 deadline, when US tariffs on $200 billion worth of Chinese imports are scheduled to increase to 25 percent from 10 percent.